What is the Future of the Global Economy?

The article addresses issues related to the current stage of globalization. It analyzes the main causes of the economic and social anti-liberal counter-revolution and emphasizes its influence on thenewly emerging shape of the global economic order. The financialization of the world economy, which is largely the result of uncontrolled financial markets, as well as speculative bubbles that are very painful for the population, has contributed, among other things, to the questioning of the development model based mainly on markets, without proper regulatory and control support from the state. If there is an ever-growing conviction that at the current stage of economic development, globalization based on neo-liberal principles should be thoroughly thought through, then what direction should the corrections or changes in the current state take. The author shares the viewpoint of Joseph E Stiglitz that the European Union is such an organization that can and should become a reference point for economic and social integration, and thus for the newly emerging global economic order. Increasing the integration of the political, regulatory, and stimulating role of the state in the economy does not mean substituting market competitiveness with protectionism and economic nationalism.